THE HONOLULU BOARD OF REALTORS® ANNOUNCES JANUARY RESIDENTIAL RESALES STATISTICS
Single Family Home Resales
Number of Sales
This Month Compared To
Median* Sales Price
*Median price means half the prices were above and half below the given price.
He continued, "It's pretty clear that lower prices were a motivating factor for both single family home and condominium buyers. Even with the currently favorable mortgage rates, the lack of demand for housing means that sellers must be willing to negotiate to move their properties. We expect that the current weak state of the housing market will continue until there is at least a perception that the economy in Hawaii is back on the upswing and getting healthier."
(This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow. The time delay between the signing of a sales contract and the closing of escrow is usually between two and four months.)
The Honolulu Board of REALTORS® has been servicing Oahu for 75 years and is one of the largest of 1,600 boards of REALTORS® in the nation. It is also the largest trade organization on Oahu. Membership, which numbers approximately 4,400, is available to licensed real estate brokers and agents who agree to adhere to a strict Code of Ethics.
© 1995-2012 Honolulu Board of REALTORS®. All rights reserved.Information herein deemed reliable but not guaranteed.
Note: Honolulu Board of REALTORS® receives inquiries seeking professional advice; however the Honolulu Board of REALTORS® staff is not qualified, nor licensed, by the state of Hawaii to properly address real estate or legal issues. For questions concerning these issues, consult with either the Hawaii Real Estate Commission, your Principal Broker, or an Attorney.